Sunday, May 15, 2016

Indices Performance Chart - 14 May 16

Another week of closing lower.

Instruments that show buying interest (3) from Dealer/Intermediary (sell-side participants)
UT
  • S&P (decreased for 1st week)
  • Nasdaq (1) (no change)
  • Russell (decreased for 1st week)
Neutral
  • None
DT
  • None

Note
(1) COT Index >= 90, Buying interest at extreme

(2) COT Index <= 10, Selling interest at extreme
(3) COT Index >= 70, rising COT Index, monitor for trend reversal
Down Trend and Up Trend is based on 50 Simple Moving Average

US markets closed lower again.  Dow and S&P hit the trend line resistance and pull back. Overall US markets are weak in short term.  After 3 weeks of closing lower with -roc, time for rebound to close with a +roc?




Dow
Daily UT, Weekly DT
Potential resistance around TLD3, 17,600, 17,829, TLD4, 18,189
Potential support around  17,271, TLD2, 17,083, TLD1, 16,745

S&P
Daily UT, Weekly DT
Potential resistance around 2,061, TLD5, 2,081, TLD3, 2,102, 2,116
Potential support around 2,045, 2,028, 1,996, 1,973, 1,930

Nasdaq
Daily UT, Weekly Neutral
Potential resistance around 4,347, TLD5, TLD3, 4,537, 4,640
Potential support around TLU2, 4,271, TLD4, TLD2, 4,193, 4,089

Russell
Daily UT, Weekly DT
Potential resistance around 1,114, TLD6, TLD4, 1,137, TLU2, 1,164
Potential support around TLD4, 1,082, 1,049, 1009

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